Average house prices in the UK have decreased by 1.2% in the 12 months to October 2023, compared with a decrease of 0.6% in the year to September 2023.

The latest UK House Price Index, published by the Office for National Statistics (ONS) using data from the Land Registry, shows that the average UK house price was £288,000 in October this year, which is £3,000 lower than 12 months ago.

Provisional estimates indicate that in England average house prices fell by 1.4% year-on-year to October 2023, while Wales saw a decrease of 3%.